Sales of Tesla's China-manufactured electric vehicles fell 49% year over year in February to 30,688 units, the lowest since August 2022, Reuters reported, citing the China Passenger Car Association.
The US electric vehicle maker sold 93,926 China-made vehicles in January and February, down 29% year over year, the report said, citing the CPCA.
The decline is attributable to the early timing of the Chinese New Year celebrations and the partial suspension of production of the Model Y due to upgrades, the report said.
On the other hand, BYD's (HKG:1211, SHE:002594) passenger vehicle sales surged 90% to 614,679 units, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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